Apple Pay to account for 1 in 2 contactless mobile wallet users by 2020

July 30, 2018 Editor 0

The number of mobile payments users who tap to pay using a contactless payment solution provided by their mobile device’s maker will grow to 450 million people worldwide by 2020, according to a new forecast from Juniper Research. This includes mobile payment solutions like Apple Pay, Samsung Pay, Google Pay, and others. By this time, Apple Pay will have amassed the largest audience, with Apple accounting for 1 in 2 of these “OEM Pay” users globally – meaning those using […]

Experian leads $28M investment in Southeast Asia fintech startup C88

July 30, 2018 Editor 0

Experian is making its first major bet on Southeast Asia and its population of over 650 million consumers after the financial credit giant backed Singapore-based C88 Financial Technologies, which operates financial marketplaces that help lenders reach new audiences. C88 today announced a $28 million Series C investment round that’s led by Experian with participation from a host of other backers that include Europe-based duo ResponsAbility Investments (Switzerland), DEG in Germany plus Korea’s InterVest, FengHe Fund Management, Pelago Capital and Fuchsia Venture Capital, the VC […]

Facebook will spend $10M on CEO Mark Zuckerberg’s private jets and security

July 27, 2018 Editor 0

The social network yesterday filed a report with the SEC, which disclosed CEO Mark Zuckerberg’s security allowance. All those extra trips to testify in front of Congress this year must have taken their toll, because he’s now allotted $10 million. That’s a significant increase over last year’s budgeted $7.3 million. Zuckerberg may be a billionaire, but he doesn’t pay his own private jet expenses. The filing, which you can read here, indicates the $10 million allowance is to: … cover […]

Facebook officially loses $123 billion in value

July 26, 2018 Editor 0

In what could be the biggest one-day drop of all time, Facebook shares opened at $174.89, down 19.6 percent compared to yesterday’s closing price of $217.50 (NASDAQ:FB). When it comes to market capitalization, Facebook was worth $629.6 billion yesterday. The company is now worth $506.2. In other words, Facebook has lost $123.4 billion in value overnight. Today’s performance isn’t due to yet another data misuse or election interfering scandal. The company has reported disappointing earnings. For the first time, Facebook’s […]

Facebook loses $120 billion in market cap after awful Q2 earnings

July 25, 2018 Editor 0

Facebook’s share price fell over 20 percent in after-hours trading today after the company announced its slowest-ever user growth rate and a scary warning that its revenue growth would rapidly decelerate. Before today’s brutal Q2 earnings, Facebook’s share price closed today at $217.50 – a record high — but fell to around $172 after the earnings call. That’s a market cap drop of roughly $123 billion. In two hours, Facebook lost more value than most startups and even public companies […]

Kredivo raises $30M to build a digital credit card for Southeast Asia

July 25, 2018 Editor 0

FinAccel, a Southeast Asia-based startup that offers a digital credit card service in Indonesia, has closed a $30 million Series B round as it begins to consider overseas expansion. The company launched its ‘Kredivo’ service two years ago to help consumers pay online in Southeast Asia, where credit card penetration is typically low, and it is essentially the combination of a digital credit card and PayPal. The service is available in Indonesia, Southeast Asia’s largest economy, where it uses a customer’s registered […]

Ebay to add support for Apple Pay, partners with Square Capital on seller financing

July 24, 2018 Editor 0

Ebay announced this morning it will begin accepting Apple Pay on its marketplace starting this fall, and has also teamed up with Square Capital on seller financing. The changes come following eBay’s further distancing from longtime partner PayPal, which included the company’s switch to Adyen as its primary payments processing partner, announced earlier this year. At the time, eBay said PayPal would continue to be an option at checkout, but Adyen would become the default over time. Now eBay is adding […]